- Mr. Cooper Group (COOP, Financial) reported a net income of $88 million for Q1 2025.
- The servicing portfolio saw a 33% year-over-year growth, reaching $1,514 billion.
- Integration with Rocket Companies is underway, with active post-close planning.
Mr. Cooper Group Inc. (COOP) released its first quarter 2025 financial results, reporting a net income of $88 million. The company achieved a pretax operating income of $255 million, reflecting strong operational performance.
The servicing segment demonstrated significant growth, with a year-over-year increase of 33%, bringing the total servicing portfolio to $1,514 billion. This growth reinforces Mr. Cooper's position as a major player in the mortgage servicing market.
In the originations segment, Mr. Cooper funded 32,296 loans, amounting to $8.3 billion in unpaid principal balance (UPB). Of this, $1.9 billion was through direct-to-consumer channels, while $6.4 billion was via correspondent lending. The refinance recapture rate improved notably to 51%, up from 35% in the previous quarter.
Additionally, Mr. Cooper announced the formation of integration teams with Rocket Companies, working proactively on post-close planning for the anticipated merger. This strategic move aims to create a leading integrated homeownership platform, enhancing the company's service offerings and market footprint.
